Moody’s Expects Surge in Oil to Dampen Islamic Bond Sales
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Surging crude is expected to lower oil-rich Gulf nations’ need to sell Islamic bonds, according to Moody’s Investors Service.
“We expect higher oil prices will lead to lower sukuk issuance in 2022, largely driven by lower financing needs” in the six-member Gulf Cooperation Council countries, analyst Ashraf Madani wrote in a report.